Looking for experienced agents in Dallas, TX area

[Chengning Yang]

I am looking for an agent who has experiences on buying pre-foreclosure properties. I have everything on hand including homeowners' information, but I haven't made any moves yet.

[Bruce Lynn]

@Chengning Yang   For the most part most agents aren't really going to help you with preforeclosures for a couple of reasons.  Those are really list you buy and prospect yourself.  So you are going to mail and call and mail and call and mail and call x6-12 more times until you get one on the hook that is interested.  Calling alone can work, but mail alone probably yields very low results.

A second reason most agents aren't likely to assist you with preforeclosures is that some huge percentage won't actually sell.  They'll hit the best lists after perhaps they miss one payment.  They make that up or do some kind of workout/modification with the bank.   I haven't calculated % in a long time and haven't seen any stats posted in a long time, however I would guess 80-90% of what is on the preforeclosure list does not go to sale anytime soon.  It is a very long game to play.  

Probably a 3rd issue is there are very very few foreclosures/preFC right now in Dallas area.  With the equity runup, most sellers can list and walk away with good equity.   Not to say there are none.  Sometimes bad things happen, death or job loss or medical issues that overwhelm people.  I've seen a few that also bought at the top of the market in 2021, maybe paying way over asking and now upside down.  The trouble with those is probably no equity for the investor to recapture.

Is there opportunity?  YES for sure?  Is it easy, NO.

What are you thinking you want an agent to do?

Now if you find listed pre-foreclosures, which there are some, and you want to write offers on those, I think a good investor agent is willing to work with you on those.  Just a matter of sorting and shifting thru the lists.